Soapbox first : We don't see the upside of choosing single life, since I am dependent on his income/savings. Unless you are disabled, you need to consider changing this. There are a couple of women who have posted during/after husband illness and death about having nothing and being eligible for nothing until early & reduced SS at 60(for widows). Look at what happens financially if your husband dies tomorrow. The SS death benefit is $255. I am assuming our retirement living expenses will be similar to our current expenses, about $3000 a month. Our retirement savings right now is $180k.One other thing to look at is if you choose a pension payment, what happens if he dies before he begins taking a benefit(it could be more than you think with either single or survivor choices) ? You need to look at SS possibilities at retirement both as a couple and if one of you is alone. Then look at your retirement savings and expected income needs. I use the 4% safe withdrawal rate in my calculations. It does seem like you need to work on the retirement savings.
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